Rose M. Chernick Sells 200 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) VP Rose M. Chernick sold 200 shares of Public Service Enterprise Group stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $65.78, for a total value of $13,156.00. Following the transaction, the vice president now owns 34,516 shares of the company’s stock, valued at approximately $2,270,462.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Public Service Enterprise Group Stock Down 0.3 %

NYSE PEG opened at $66.49 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $67.51. The company has a 50 day moving average of $64.14 and a 200-day moving average of $62.14. The company has a market cap of $33.15 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 2.88 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The firm’s quarterly revenue was down 17.0% on a year-over-year basis. On average, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.61%. Public Service Enterprise Group’s dividend payout ratio is currently 46.78%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PEG. Bank of America boosted their price objective on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Wells Fargo & Company boosted their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Royal Bank of Canada boosted their price objective on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Guggenheim cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective for the company. in a report on Monday, January 22nd. Finally, TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $67.15.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PEG. Dynamic Advisor Solutions LLC acquired a new position in Public Service Enterprise Group during the third quarter valued at approximately $212,000. CWM LLC raised its position in Public Service Enterprise Group by 4.1% during the third quarter. CWM LLC now owns 11,893 shares of the utilities provider’s stock valued at $677,000 after purchasing an additional 472 shares in the last quarter. IFP Advisors Inc raised its position in Public Service Enterprise Group by 16.9% during the third quarter. IFP Advisors Inc now owns 1,657 shares of the utilities provider’s stock valued at $94,000 after purchasing an additional 239 shares in the last quarter. Arkadios Wealth Advisors raised its position in Public Service Enterprise Group by 28.5% during the third quarter. Arkadios Wealth Advisors now owns 5,769 shares of the utilities provider’s stock valued at $328,000 after purchasing an additional 1,281 shares in the last quarter. Finally, Leavell Investment Management Inc. bought a new stake in shares of Public Service Enterprise Group during the third quarter worth $358,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.